Turning 65 doesn’t mean Medicare starts automatically
Turning 65 doesn’t mean Medicare starts automatically. Assuming it does is a common mistake I see here in Volusia County, and it often leads to lifetime late-enrollment penalties.
Medicare enrollment isn't one-size-fits-all. Your specific situation determines if you need to take action:
1. THE AUTOMATIC PATH: If you already receive Social Security benefits, your card should arrive about three months before your 65th birthday.
2. THE MANDATORY ACTION: Not on Social Security and no large employer coverage? You MUST sign up during your 7-month window. Missing this leads to a permanent 10% premium penalty for every year you were eligible but didn't sign up.
3. THE DEFERMENT OPTION: Still working? If your employer has 20 or more employees, you might be able to delay Part B and stay on your group plan to save on premiums until you retire.
The wait-and-see approach is the most expensive strategy you can take. Let’s get your game plan sorted before that 65th birthday.
📞 386 401 5644
📧 ncurry@healthbrokerfl.com
🌐 https://ift.tt/Vcy1J8X
#Medicare #Turning65 #HealthInsurance #RetirementPlanning
Medicare enrollment isn't one-size-fits-all. Your specific situation determines if you need to take action:
1. THE AUTOMATIC PATH: If you already receive Social Security benefits, your card should arrive about three months before your 65th birthday.
2. THE MANDATORY ACTION: Not on Social Security and no large employer coverage? You MUST sign up during your 7-month window. Missing this leads to a permanent 10% premium penalty for every year you were eligible but didn't sign up.
3. THE DEFERMENT OPTION: Still working? If your employer has 20 or more employees, you might be able to delay Part B and stay on your group plan to save on premiums until you retire.
The wait-and-see approach is the most expensive strategy you can take. Let’s get your game plan sorted before that 65th birthday.
📞 386 401 5644
📧 ncurry@healthbrokerfl.com
🌐 https://ift.tt/Vcy1J8X
#Medicare #Turning65 #HealthInsurance #RetirementPlanning
Source: Best Health Insurance in South Daytona
United Benefits Group, 913 Big Tree Road, South Daytona, FL 32119, (386) 368-7800
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